HC Wainwright Reiterates "Buy" Rating for Innate Pharma (NASDAQ:IPHA)

Innate Pharma (NASDAQ:IPHA - Get Free Report)'s stock had its "buy" rating reissued by HC Wainwright in a research report issued on Wednesday, Benzinga reports. They presently have a $11.50 price objective on the stock. HC Wainwright's target price suggests a potential upside of 358.84% from the stock's previous close.

Innate Pharma Stock Performance

Shares of IPHA stock traded down $0.13 during mid-day trading on Wednesday, reaching $2.51. The company's stock had a trading volume of 8,879 shares, compared to its average volume of 9,777. Innate Pharma has a 1-year low of $1.81 and a 1-year high of $3.57. The company has a current ratio of 3.73, a quick ratio of 3.73 and a debt-to-equity ratio of 0.60. The firm's 50-day moving average is $2.51 and its two-hundred day moving average is $2.56.

Institutional Investors Weigh In On Innate Pharma

A hedge fund recently raised its stake in Innate Pharma stock. Optiver Holding B.V. increased its position in shares of Innate Pharma S.A. (NASDAQ:IPHA - Free Report) by 132.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 190,219 shares of the company's stock after purchasing an additional 108,423 shares during the quarter. Optiver Holding B.V. owned approximately 0.24% of Innate Pharma worth $481,000 at the end of the most recent quarter. 0.16% of the stock is currently owned by hedge funds and other institutional investors.

About Innate Pharma

Innate Pharma SA, a biotechnology company, develops immunotherapies for cancer patients in France and internationally. The company's products include Lacutamab (IPH4102), an anti-KIR3DL2 antibody, which is in Phase II clinical trials for the treatment of cutaneous T-cell and peripheral T-cell lymphoma, as well as in Phase II clinical trials to treat refractory sézary syndrome; Monalizumab, an immune checkpoint inhibitor that is in Phase III clinical trial to treat advanced solid tumors comprising colorectal and lung cancer, as well as head and neck cancer; IPH5201, a blocking antibody that is in Phase II clinical trials targeting the CD39 immunosuppressive pathway; IPH5301, an anti-CD73 antibody targeting the immunosuppressive adenosine pathway to promote antitumor immunity; IPH6401, an BCMA-targeting NK cell engager; and IPH6101, a NKp46-based NK cell engager that targets CD123 proprietary multi-specific antibody format; and IPH62, an B7-H3-targeting NK cell engager.